Ratings On Ireland-Based CRH Affirmed At 'BBB+' On Planned Acquisition Of LafargeHolcim Disposal Assets; Outlook Stable

Irish building materials group, CRH plc has entered into a binding agreement to acquire assets being disposed from Lafarge S.A. and Holcim Ltd. for a value of €6.5 billion. CRH plans to finance the acquisition through a combination of cash on the balance sheet, new debt, and new equity. We believe that CRH's credit metrics will remain commensurate with the current ratings, albeit worsening in the short term. As such, we are affirming our 'BBB+/A-2' long- and short-term ratings on CRH. The stable outlook reflects our view that the enlarged CRH group will retain its strong business risk profile, and that its credit metrics will recover over 2016 and 2017. LONDON (Standard&Poor's) Feb. 5, 2015--Standard&Poor's Ratings

...+ Irish building materials group, CRH plc has entered into a binding agreement to acquire assets being disposed from Lafarge S.A. and Holcim Ltd. for a value of 6.5 billion. + CRH plans to finance the acquisition through a combination of cash on the balance sheet, new debt, and new equity. + We believe that CRH's credit metrics will remain commensurate with the current ratings, albeit worsening in the short term. As such, we are affirming our '###+/A-2' long- and short-term ratings on CRH. + The stable outlook reflects our view that the enlarged CRH group will retain its strong business risk profile, and that its credit metrics will recover over 2016 and 2017. LONDON (Standard & Poor's) Feb. 5, 2015--Standard & Poor's Ratings Services today affirmed its '###+/A-2' long- and short-term corporate credit ratings on Ireland-based building materials group CRH plc. The outlook remains stable. The affirmation follows the announcement by CRH that it has signed a binding agreement with Swiss heavy...

Ratings Action